£74m funding secured for Canons Wharf scheme in Bristol

Puma Property Finance has agreed a £74 million development loan to support the transformation of Canons Wharf, a Grade II listed estate on Bristol’s Harbourside. The funding will enable a joint venture between Mactaggart Family & Partners (MF&P) and Kinrise to redevelop the former Lloyds Banking Group offices into a 165,000 sq ft office-led scheme.

The project will deliver two distinct office buildings overlooking the water, alongside 18,000 sq ft of food and beverage space fronting the city’s Amphitheatre, a public venue for year-round events. Designed for flexibility, the buildings are intended to suit either single headquarters use or a multi-let campus format.

The scheme includes a range of amenities such as a gym, rooftop pavilion, auditorium, saunas, gardens, and terraces. The developers aim to meet high sustainability and digital performance standards, targeting BREEAM Excellent, EPC A, WiredScore Platinum and SmartScore Gold ratings.

A key feature of the project is its focus on low-carbon retrofit, with the reuse of existing structures to minimise embodied carbon. The development will be fully electric, powered by green energy, and will include water source heat pumps drawing from the adjacent harbour. Other sustainability features include rooftop solar panels, natural ventilation, and expanded green landscaping.

Situated on 4.6 acres of freehold land in central Bristol, Canons Wharf is within walking distance of Temple Meads Station and surrounded by finance, legal and technology sector occupiers. The area is part of a wider Harbourside community and benefits from strong transport links and existing infrastructure.

The Bristol office market continues to perform strongly, with Grade A vacancy at just 3.9%, the lowest among the UK’s six largest regional office cities. Demand for high-quality workspace is driven by the city’s knowledge economy and limited new supply.

This is Puma’s largest loan to date and its first deal in Bristol. The lender previously supported MF&P in 2022 with a £33 million facility for the retrofit of Mountbatten House in Basingstoke, now rebranded as Plant.

The joint venture brings together MF&P, a long-standing family office with a background in value-add real estate, and Kinrise, a specialist in retrofitting historic buildings. Work at Canons Wharf is expected to begin in summer 2026, with completion targeted for late 2027.